Monthly Archives: April 2015

This article was previously published in Screentrade Magazine on 1 March 2015

Once closed, how may cinemas become ACVs, or ‘assets of community value’? What does it mean anyway, and what are the limitations and likely realities when enabling community groups to bid for these properties? 

There have seen some recent high profile examples recently of local community groups, taking advantage of a right enshrined in the Localism Act 2011, to apply for historic local buildings to be listed as an ‘asset of community value’ (ACV). This right, existing since September 2012, has been enthusiastically embraced by local communities. And whilst pubs have received more applications than any other type of building, cinemas – such as the Bexhill Playhouse, the Crystal Palace Rialto and the Stockport Savoy – have also been nominated. Once listed, the owner is unable to sell or lease the building for five years without first notifying the community group. There then follows a six-month moratorium, during which the owner may continue to market the property but it will be unable to sell (or lease) it to anyone other than the community group until the six month period is up. The moratorium is designed to give the community group time to raise finance to purchase the property. More…